Business
Successful Auction Sale of 1oz Gold Coin
Successful Auction Sale of 1oz Gold Coin.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n\nAlba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining\n4 April 2025\nAlba Mineral Resources Plc\n(\"Alba\" or the \"Company\") \nClogau Update\nSuccessful Auction Sale of 1oz Gold Coin\n \nAlba Mineral Resources plc (AIM: ALBA), the gold and critical minerals exploration and development company, is pleased to announce the successful auction of its exclusive 1oz gold coin, which fetched an impressive £20,000 at auction yesterday.\nStruck from Welsh gold mined at the Company's historic Clogau-St David's Gold Mine in North Wales (\"Clogau\" or the \"Mine\"), the coin represents not only the first gold sale from Alba's stewardship of the Mine but also the enduring appeal and rarity of Welsh gold. The price fetched by the sale represents a premium of almost 8.5 times the spot price of gold, which currently stands at around £2,370 per ounce.\nGeorge Frangeskides, Executive Chairman of Alba, commented:\n\"We are absolutely delighted with the result of yesterday's auction. The strong sale price achieved for this unique and beautifully crafted 1oz, 24-carat coin reflects the heritage and prestige of Welsh gold. It is also a validation of our strong belief in the commercial potential of the Clogau-St David's Gold Mine, and of gold exploration and development across the North Wales Dolgellau Gold Belt generally.\n\"This successful sale marks the achievement of an exciting milestone as we continue to advance our development work at Clogau.\"\n\nFigure 1: The Company has minted three limited edition, \"Tyn-y-Cornel\" series, 1oz, 24-carat Welsh gold coins, made solely from gold mined from the Clogau-St David's Gold Mine, with the first coin sold at auction yesterday for £20,000.\n \nThis announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.\nForward Looking Statements\nThis announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market, financial and business conditions, competition for and availability of qualified staff and contractors, regulatory processes and actions, technical issues, new legi...